ACT XXXIX.

AN ACT to Give Effect to the Constitutional Provisions Against Usury.

SECTION.

1. What shall constitute usurious contracts; How same be annulled or canceled; Suits against parties to contract.

2

3

Judgment may be recovered and property sold to satisfy same; Disposition of proceeds of sale.

Payment shall not be required of any part of usurious debt or interest; Conveyance, mortgage or pledge may be enjoined, canceled or annulled; Rules of law to contrary abrogated.

4. Act applies to all usurious contracts; And in force from passage.

Be it enacted by the Geueral Assembly of the State of Arkansas:

SECTION I. That every lien created or arising by mortgage, deed of trust or otherwise, on real or personal property, to secure the payment of a contract for a greater rate of interest than ten per centum per annum, either directly or indirectly, and every conveyance made in furtherance of any such lien is void; and every such lien or conveyance may be cancelled and annulled at the suit of the maker of such usurious contract, or his vendees, assigns or creditors. The maker of a usurious contract may by suit in equity against all parties asserting rights under the same, have such contract and any mortgage, pledge or other lien, or conveyance executed to secure the performance of the same, annulled and cancelled, and any property, real or personal, embraced within the terms of said. lien or conveyance, delivered up if in possession of any of the defendants in the action, and if the same be in the possession of the plaintiff, provision shall be made in the decree in the case removing the cloud of such usurious lien, and conveyances made in furtherance thereof, from the title to such property. And any person who may have acquired the title to, or an interest in, or lien upon such property by purchase from the makers of such usurious contract, or by assignment or by sale under judicial process, mortgage or otherwise, either before or after the making of the usurious contract, may bring his suit in equity against the parties to such usurious contract,

and any one claiming title to such property by virtue of such usurious contract, or may intervene in any suit brought to enforce such lien, or to obtain possession of such property under any title growing out of such usurious contract, and shall by proper decree have such mortgage, pledge or other lien, or conveyance made in furtherance thereof, cancelled and annulled in so far as the same is in conflict with the rights of the plaintiff in the action.

SEC. 2. That any creditor whose debtor has given a lien by mortgage, pledge or otherwise, on real or personal property, subject to execution to secure the payment of a usurious contract, may bring his suit in equity against the parties to such usurious contract, and recover judgment for his debt against the debtor, and a decree cancelling and annulling such usurious lien, and directing the sale of the property to satisfy the plaintiff's judgment and costs, and any surplus that may remain after satisfying the plaintiff's judgment, shall be paid to the debtor.

SEC. 3. That neither the maker of a usurious contract nor his vendees, assigns or creditors, or any other person who may have or claim an interest in any property embraced within the terms of said usurious contract, shall be required to tender or pay any part of the usurious debt or interest as a condition of having such contract, and any conveyance, mortgage, pledge or other lien given to secure its payment or executed in furtherance thereof, enjoined, cancelled and annulled, and any rule of law, equity or practice to the contrary is hereby abrogated.

SEC. 4. That this act shall apply to all usurious contracts and securities, whether executed before or after its passage, and shall be in force from and after its passage.

Approved March 3, 1887.

ACT XL.

AN ACT to Close Certain Accounts, and Transfer Certain Funds, in the State Treasury, to the General Revenue Fund.

SECTION.

1. Auditor of State authorized to transfer certain funds.

2. Auditor to discontinue and transfer accounts; Treasurer to cancel and schedule redeemed "Levee Bonds," etc., to "Burning Board," for destruction; Auditor to allow Treasurer proper credits.

3. Act in force from passage.

Be it enacted by the General Assembly of the State of Arkansas:

SECTION I. That the Auditor of the State shall be, and he is hereby authorized to transfer all amounts in the "Excess Fund" on the books of his office to the "General Revenue Fund," and thereafter drop and discontinue said "Excess Fund" account. And should any just or legal claim or claims be hereafter presented for any items in said "Excess Fund" contained, the Auditor shall have the authority to draw his warrant for, and the Treasurer to pay, such item or items out of any appropriation for money erroneously paid into the Treasury.

SEC. 2. That the Auditor shall be and is hereby authorized to discontinue and drop from the books of his office, the several accounts known as the "Searcy, Pine Bluff and Monroe Railroad Fund," "The Little Rock, Mississippi River and Texas Railroad Fund," "The Levee Fund" and "The Lunatic Asylum Fund," after proper transfers of the same to the General Revenue, or in his discretion, to other appropriate funds, on the books of his office, and to direct corresponding corrections upon the books of the State Treasurer's office. And as soon as may be after such corrections are made, it shall be the duty of the Treasurer, if not already done, to cancel and schedule all the redeemed "Levee Bonds," "Holding Certificates," "Reclamations Certificates," "Levee Coupons," and "Auditor's Warrants for Levee Bonds," and "Auditor's Warrants "amounting to $12,393.23, on file in his office, to the

"Burning Board," provided for in Sections 3207 and 3208 of Mansfield's Digest, for destruction, according to law, and the Auditor shall allow the Treasurer all proper credits growing out of the proceedings authorized by this act.

SEC. 3. That this act take effect and be in force from and after its passage.

Approved March 7, 1887.

ACT XLI.

AN ACT Amending "Section Five Thousand One Hundred and Ninety-five" of Mansfield's Digest.

SECTION.

1. Amends section 5195 Mansfield's Digest.

2. Conflicting laws repealed and act in force from passage.

Be it enacted by the General Assembly of the State of Arkansas:

SECTION I. Where a judgment has been rendered against a defendant or defendants constructively summoned and who did not appear, such defendants or any one or more of them may at any time within two years, and not thereafter, after the rendition of the judgment appear in open court and move to have the action retried; and security for the costs being given, such defendant or defendants shall be permitted to make defense, and thereupon the action shall be tried anew as to such defendant or defendants as if there had been no judgment, and upon the new trial the court may confirm, modify or set aside the former judgment and may order the plaintiff in the action to restore to any such defendant or defendants any money of such defendant paid to them under such judg

ment, or any property of such detendants obtained by the plaintiff under it and yet remaining in his possession and pay to the defendant the value of any property which may have been taken under an attachment in the action or under the judgment and not restored; Provided, The provisions of this section shall not apply to judgments granting a divorce except so far as relates to alimony.

SEC. 2. That all laws and parts of laws in conflict with this act be, and the same are hereby repealed, and this act take effect and be in force from and after its passage.

Approved March 4, 1887.

ACT XLII.

AN ACT Defining and Punishing Misdemeanors in Certain Cases.

Be it enacted by the General Assembly of the State of Arkansas:

SECTION 1. That if any person shall persuade, entice, or in any manner induce any apprentice away from the service of his master, or shall secrete such apprentice, or otherwise cause such apprentice to remain from the service of his master, every such person so offending, shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be fined in any sum not less than twenty-five dollars nor more than one hundred dollars, and in addition, shall be liable in a civil action for any and all damages occasioned thereby.

SEC. 2.

That this act take effect and be in force from and

after its passage.

Approved March 4, 1887.